Bilbao, 15.9.2016 – In line with the objectives of its recent IPO and its strategy to be a relevant players in the consolidation process of the sector of multitechnological services and solutions and specialized engineering, Dominion has acquired the energy assets of Scorpio Electrical Group.
The amount of transaction adds up to around €17.8 million, including a fixed element of €8.8 million and a variable of up to €9 million. The variable part is linked to the 33% EBITDA achieved by the company holding the energy assets acquired on its pipeline of identified projects and opportunities.
Following this acquisition, Dominion integrates the managing team of the Energy Division ofScorpio Group into its perimeter, including its CEO and owner; together with a backlog of renewable energy projects amounting to €50 million approximately, and a participation of 25% in BAS Projects Corporation, a Company specialized in identifying and developing renewable projects, which has signed an exclusivity agreement with Dominion. Hence, the company demonstrates again its capacity to integrate teams with high added value and strengthens its offer within the scope of solutions and services in the area of renewable energy.
Dominion understands digitalization as the use of digital technologies aimed at changing business models. Dominion’s fundamental mission is helping their clients make their productive processes more efficient and flexible, either by their complete outsourcing or by applying solutions based on specialized technologies and platforms.
Dominion develops its activity through two operational segments: Multi-technical services “Services” and Solutions and specialized engineering “Solutions”, and is focused on three main activity fields: Telecommunications and Technology “T&T”, Industry and Renewable Energy.